Bitcoin (BTC) Holds Steady Amid Tech Earnings and Fed Speculations
Darius Baruo Nov 01, 2025 07:20
Bitcoin remains near $109,000 as tech earnings boost Wall Street, while traders reassess Fed rate cut expectations, affecting crypto market dynamics.
Bitcoin (BTC) maintained its position near the $109,000 mark as the Asia-Pacific markets opened with a positive outlook, supported by encouraging tech earnings, according to CryptoNews. This development comes amid a week of volatility in the digital asset sector, influenced by Federal Reserve comments that have tempered expectations for imminent rate cuts.
Asia-Pacific Markets and Tech Optimism
Japan spearheaded the regional gains, with the Nikkei 225 climbing over 1% to reach a new record, and the Topix rising by 0.79%. These increases followed signals of easing tensions between the US and China after high-level discussions. South Korea also saw positive movement, with the Kospi increasing by 0.22% and the Kosdaq by 0.47%.
Tech Giants Influence Wall Street
Wall Street futures experienced a boost from robust earnings reports by Amazon and Apple. Amazon's earnings led to a 13% surge in its shares, adding over $300 billion in market value, while Apple saw a 2.3% increase following optimistic iPhone sales forecasts. However, the tech sector remains under pressure due to concerns over rapid AI investments, particularly from companies like Meta and Microsoft.
Despite these gains, the overall sentiment was subdued by the Federal Reserve's hawkish outlook, which dampened expectations for rate cuts in December. The Nasdaq futures rose by 1.2%, and S&P 500 futures climbed by 0.6% in response to these mixed signals.
Crypto Market Dynamics
The crypto market reflected cautious investor sentiment, with US Bitcoin spot ETFs witnessing a net outflow of $488 million on October 30. Ethereum spot ETFs also saw a net outflow of $184 million. Conversely, Solana spot ETFs attracted a net inflow of $37.33 million, marking a three-day streak of positive inflows.
This cautious approach by traders was further influenced by Fed Chair Jerome Powell’s remarks, which prompted a reevaluation of the timeline for potential rate cuts. As a result, the crypto sector experienced a 2.37% decline over a 24-hour period, with open interest in derivatives falling by nearly 5% and funding rates turning negative, indicating increased short positions.
Future Projections
Analysts, including Riya Sehgal from Delta Exchange, suggest that the upcoming US jobs report on November 1st could serve as a critical indicator for market movements. A strong labor report might exacerbate the sell-off, whereas signs of economic cooling could provide a temporary boost to the crypto market.
With ETF outflows persisting and Bitcoin facing resistance, its trading range is likely to remain between $107,000 and $113,000 until clearer economic signals emerge.
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